Cracker Barrel Old Country Store, Inc. (CBRL) Releases FY18 Earnings Guidance
Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) updated its FY18 earnings guidance on Tuesday. The company provided EPS guidance of $8.75-8.90 for the period, compared to the Thomson Reuters consensus EPS estimate of $8.83. The company issued revenue guidance of $3.1 billion, compared to the consensus revenue estimate of $3.06 billion.Cracker Barrel Old Country Store also updated its Q2 guidance to $2.15-2.25 EPS.
A number of research firms have commented on CBRL. Zacks Investment Research downgraded shares of Cracker Barrel Old Country Store from a buy rating to a hold rating in a research report on Friday. SunTrust Banks, Inc. reaffirmed a hold rating and issued a $136.00 target price on shares of Cracker Barrel Old Country Store in a research report on Friday, October 20th. Maxim Group reaffirmed a hold rating and issued a $160.00 target price (up previously from $155.00) on shares of Cracker Barrel Old Country Store in a research report on Wednesday, October 11th. Instinet reaffirmed a neutral rating and issued a $158.00 target price (down previously from $162.00) on shares of Cracker Barrel Old Country Store in a research report on Thursday, September 14th. Finally, Nomura cut their target price on shares of Cracker Barrel Old Country Store from $162.00 to $158.00 and set a neutral rating for the company in a research report on Thursday, September 14th. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Cracker Barrel Old Country Store presently has a consensus rating of Hold and an average price target of $160.20.
Shares of Cracker Barrel Old Country Store, Inc. (CBRL) traded down $1.50 during trading on Tuesday, hitting $157.20. 712,800 shares of the stock traded hands, compared to its average volume of 290,003. The stock has a market cap of $3,823.76, a PE ratio of 18.94, a PEG ratio of 2.67 and a beta of 0.48. Cracker Barrel Old Country Store, Inc. has a 1-year low of $141.75 and a 1-year high of $175.04. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 0.73.
Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Monday, November 20th. The restaurant operator reported $1.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.07). The business had revenue of $710.40 million for the quarter, compared to analysts’ expectations of $718.85 million. Cracker Barrel Old Country Store had a return on equity of 35.49% and a net margin of 6.90%. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.01 EPS. equities research analysts expect that Cracker Barrel Old Country Store, Inc. will post 8.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Friday, January 12th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.05%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 57.28%.
Cracker Barrel Old Country Store declared that its Board of Directors has authorized a stock buyback program on Friday, September 29th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the restaurant operator to reacquire up to 0.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, CEO Sandra B. Cochran sold 36,794 shares of Cracker Barrel Old Country Store stock in a transaction on Monday, September 18th. The shares were sold at an average price of $151.67, for a total transaction of $5,580,545.98. Following the transaction, the chief executive officer now owns 157,591 shares in the company, valued at approximately $23,901,826.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrea Weiss sold 2,000 shares of Cracker Barrel Old Country Store stock in a transaction on Friday, September 15th. The stock was sold at an average price of $153.39, for a total transaction of $306,780.00. Following the transaction, the director now owns 11,758 shares in the company, valued at approximately $1,803,559.62. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.
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About Cracker Barrel Old Country Store
Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods.
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